August 31, 2026
A growth-style fund seeking long-term development in emerging markets around the world.
Is this fund right for you?
How is the fund invested?
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| No Data Available |
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Growth of $10,000 (since inception)
Data not available based on date of inception
Fund details
| Top holdings | Percent (%) |
|---|---|
| No Data Available | |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | - |
| Dividend yield | - |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | - |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| Data not available based on date of inception | |||
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| Data not available based on date of inception | |||
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| Data not available based on date of inception | |||
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| Data not available based on date of inception | |||
Range of returns over five years
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| Data not available based on date of inception | |||
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| Data not available based on date of inception | |||
Q2 2026 Fund Commentary
Commentary and opinions are provided by Mackenzie Investments.
Market commentary
Emerging markets had a strong second quarter. The retreat in crude oil prices late in the quarter eased pressure on oil-importing economies in Asia, including China, India, Japan and South Korea, after higher energy costs had weighed on trade balances earlier in the year. The easing of tensions in the Middle East and the resumption of shipping through the Strait of Hormuz supported sentiment.
Regional performance varied. Demand tied to artificial intelligence (AI) and semiconductors drove extraordinary gains in South Korea and Taiwan. Commodity-exporting markets benefited from firm commodity prices early in the quarter. Chinese and Indian equities lagged, while Latin American markets were supported by resilient domestic demand.
Emerging market equities rose close to 23% for the quarter, outperforming developed markets. Technology-oriented markets led, and energy-related companies performed well in markets with significant oil and gas exposure. Consumer-oriented sectors were mixed amid uneven domestic demand signals.
Performance
Selection in Taiwan, Saudi Arabia and Malaysia contributed to performance. Security selection in the information technology and energy sectors also contributed to performance. Exposure to growth and quality equities factors contributed to performance, as did exposure to market sensitivity and profitability.
Relative overweight exposure to SK Hynix Inc., Kingboard Holdings Ltd. and Global Unichip Corp. contributed to the Fund’s performance. These information technology stocks benefited from an advance across the AI-related semiconductor and electronics supply chain.
Security selection in India, Indonesia and South Korea detracted from performance. Selection in industrials, consumer discretionary and real estate also detracted from performance. Value and informed investor factors detracted from performance, as did the Fund’s smaller size bias.
Underweight exposure to MediaTek Inc., Taiwan Semiconductor Manufacturing Co. Ltd. and SK Square Co. Ltd. detracted from performance.
Portfolio activity
Activity in the Fund is driven by stock selection, optimization and the sub-advisor’s vetting process, which is run daily.
Data not available based on date of inception
